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Finding the Best Long Term Care Insurance Policy

Last update on: Dec 27 2018

The top five LTC insurers are Genworth, Bankers Life & Casualty, John Hancock, MetLife, and Transamerica. Don’t shop for the lowest premiums and loudest policy bells and whistles. You want a solid company with superior financial safety ratings that has been in the LTC business for a while. (The industry is only about 30 years old.) I think you also should prefer a diversified company that can tap resources other than its LTC premiums. (The risk of a diversified company is that hardships in one or more of its other businesses could hurt the LTC business.) Read closely the reports about problems with LTC policies, and most of the time you’ll see the problems are concentrated among companies new to the business, small insurers, and non-diversified insurers.

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